Answer:
$441
Step-by-step explanation:
First, converting R percent to r a decimal
r = R/100 = 3.5%/100 = 0.035 per year,
then, solving our equation
I = 2400 × 0.035 × 5.25 = 441
I = $ 441.00
The simple interest accumulated
on a principal of $ 2,400.00
at a rate of 3.5% per year
for 5.25 years is $ 441.00.
